Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

SLUMLORD Alert!

17 Jan 2025 · 1 min

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0:38

Christian Osgood drove six hours to inspect investment properties and found a building with no plumbing or flooring. He'd asked a property manager to handle repairs and leasing, but the property needed a general contractor instead. He calls it a horrible slumlord building, even though it was the best one he saw that day.

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This is how you piss off a property manager. I drove 6 hours today to visit this property and 12 others just like it. I said, hey, I need a property manager to help me manage just a few repairs, some make-readies, and then I want you to lease up these buildings. I have hundreds of other units, you can manage those too if this goes well. Well, I get here, caveat, no plumbing. Oh, additionally, no flooring. Guys, this is ridiculous. This is a job for a general contractor. A property manager manages a property. Tenants, leasing. If you're going to call me out and spend 6 hours of my day driving, looking at stuff like this, there's nowhere for me to make money and it's a total waste of time. This is a horrible building. It was the nicest one I looked at the whole day.